Women at work: Don't raid your retirement savings

8:02 AM,
May 7, 2013

Mary Spurrier

Written by

Mary Spurrier

One in four American workers is invading their retirement savings for non-retirement needs. Data from Vanguard, one of the largest 401(k) managers, shows a 12 percent increase in the number of workers who took loans against or withdrew money from their retirement accounts since 2008.

Many employers embrace 401(k) plans as a way of helping workers prepare for retirement while relieving themselves of the risk of managing a pension plan. In theory, 401(k) plans are better suited for an economy in which workers are changing jobs more frequently because accounts can be rolled over from a ...